The market continued to pullback on Wednesday and I'm not expecting much to happen today. Everything is pointing to a bottom early next week as we get closer to the inauguration on the 20th, but I think it bottoms before then and starts up so that it can do the big breakout squeeze afterwards, which could (should) continue into the end of the month.
I don't know if it's going to happen like this or not but a lot of things are setting up for some big move up, but whether that's just to a lower high or breakout high is unknown. The typical pattern though is that the longer the market consolidates in a range the bigger the rally. It's been in a corrective sideways up and down range of about 300 points for 3 weeks now, which should lead to a power rally when it finally breaks out. Not much more to add, so I'll end it here.
Have a great weekend.
